Canada Jetlines Operation

Thank you for standing by. This is the conference operator. Welcome to the Canada JetLine's fourth quarter and year-end 2023 results conference call and webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star, then zero. I would now like to turn the conference over to Susan Chu, Investor Relations. Please go ahead.

Thank you, Operator, and good afternoon, everyone. Welcome and thank you for joining Canada Jetline's Q4 and full year 2023 results conference call. Speaking on our call today is Canada Jetline's Chief Executive Officer, Eddie Doyle, and Chief Financial Officer, Percy Chiara. Our Q4 and year-end 2023 results were disseminated this afternoon and are available on CDAR Plus as well as on our website at www.jetlines.com. Before we get started, I wish to remind everyone that some statements made on today's call are forward-looking in nature and therefore are subject to certain risks and uncertainties. which are all outlined in detail in our regulatory filings available on CDAR+. On this call, we will refer to the company as Canada Jet Lines or Jet Lines. I will now turn it over to Eddie to share the company's Q4 update. Percy will then provide a financial update. Over to you, Eddie.

Thank you, Susan. Good afternoon, everyone, and thank you for joining us this afternoon. On the agenda today, we'll be discussing our Q4 and full-year 2023 highlights, our financial results, some of the 2024 outlook in our sleep plan. And as mentioned before, we will also have a Q&A session at the end of the presentation. Some of the accomplishments in 2023 In early 2023, we launched a new international nonstop service from Toronto Pearson to destinations such as Cancun, Montego Bay, Las Vegas, and Orlando, which we started in the fall of 2023. This opened additional revenue screens for us, of course. In addition to our scheduled service just mentioned, Throughout the year, we secured several significant charter contracts for cruise company, the Department of National Defense, private companies, as well as three CFL teams. We also operated under a wet lease contract for other operators. These contracts have not only boosted our revenue, but also strengthened our reputation as a reliable and efficient air travel provider. In August, we took delivery of our third Airbus 320, which enters service shortly after in mid-August. The private placement announced last quarter in Q4 in partnership with Jetstream Aviation Incorporated aimed to raise a total of $13.5 million. We successfully closed the first and second tranche in Q4 2023 and the third and final tranche in January 2024. As a result, JETS III now holds approximately 50% of the issued and outstanding shares of the company. We used the proceeds from the financing for warship capital and to fuel the expansion of our fleet, and we will be operating six aircraft by the end of June 2024 with over 200 employees. Additionally, we will further enhance our tour operator division which provides all-inclusive vacation packages and cruises. In the full year 2023, we achieved total operating revenue of $37.2 million, compared to $3.2 million in the prior year. This is our first full year of operation, as Canada JetLine only commenced operation and started to earn operating income in the third quarter of 2022. Most of our revenues in 2023 were generated by our charter and ACMI operation, and I will interchange the term ACMI and WETC. They both mean the same. Accounting for $26.7 million in 2023 compared to $2.4 million in 2022. We increased EBITDA in 2023 by 57% compared to the fiscal year of 2022. In Q4, we flew 1,729 block hours, which represented an increase of 324% over the 534 hours flown in Q4 2022. With that, I'll turn it over to Percy to talk about our financial results for Q4 and for the full year of 2023. Thank you, Eddie, and good afternoon, everyone.